공지 • May 01
Nasdaq Determines Elite Express Holding Inc. Is Eligible for an Additional 180 Calendar Days, or Until October 26, 2026 to Regain Compliance As previously disclosed, on October 31, 2025, Elite Express Holding Inc. (the Company) received a deficiency letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (Nasdaq) notifying the Company that, based upon the closing bid price of the Company's listed security for the previous 30 consecutive business days, the Company was not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1.00 per share. The deficiency letter provided the Company with 180 calendar days, or until April 29, 2026, to regain compliance. On April 30, 2026, the Company received a notification from Nasdaq (the Notification) advising that, although the Company had not regained compliance with the minimum bid price requirement, Nasdaq determined that the Company is eligible for an additional 180 calendar days, or until October 26, 2026 (the Second Compliance Period), to regain compliance. The Notification indicated that Nasdaq's determination was based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capital Market, other than the bid price requirement, and the Company's written notice of its intention to cure the deficiency during the Second Compliance Period, if necessary, by effecting a reverse stock split. If at any time during the Second Compliance Period the closing bid price of the Company's listed securities is at least $1.00 per share for a minimum of 10 consecutive business days, subject to Nasdaq's discretion under the Nasdaq Listing Rules, Nasdaq will provide written confirmation of compliance and the matter will be closed. The Notification has no immediate effect on the listing or trading of the Company's securities on The Nasdaq Capital Market. The Company intends to continue monitoring the bid price of its listed securities and will consider available options to regain compliance with Nasdaq Listing Rule 5550(a)(2), including, if necessary, effecting a reverse stock split at a ratio within the range previously approved by the Company's stockholders. If the Company does not regain compliance by October 26, 2026, Nasdaq will provide written notification that the Company's securities will be subject to delisting. Although the Company intends to use all reasonable efforts to regain compliance with Nasdaq Listing Rule 5550(a)(2), there can be no assurance that the Company will regain compliance during the Second Compliance Period or otherwise maintain compliance with Nasdaq's continued listing requirements. New Risk • Apr 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$3.9m free cash flow). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Revenue is less than US$5m (US$2.8m revenue). Market cap is less than US$100m (US$10.7m market cap). New Risk • Apr 21
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.92m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$3.9m free cash flow). Market cap is less than US$10m (US$9.92m market cap). Minor Risk Revenue is less than US$5m (US$2.8m revenue). Reported Earnings • Apr 15
First quarter 2026 earnings released: US$0.007 loss per share (vs US$0.016 loss in 1Q 2025) First quarter 2026 results: US$0.007 loss per share (improved from US$0.016 loss in 1Q 2025). Revenue: US$805.3k (up 16% from 1Q 2025). Net loss: US$110.1k (loss narrowed 46% from 1Q 2025). New Risk • Mar 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$2.9m free cash flow). Market cap is less than US$10m (US$7.11m market cap). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Revenue is less than US$5m (US$2.7m revenue). New Risk • Mar 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$2.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$2.9m free cash flow). Market cap is less than US$10m (US$7.72m market cap). Minor Risk Revenue is less than US$5m (US$2.7m revenue). 